Daily Notes: 12-07-2023
Developments
Silk Rd DOJ BTC Sent To Coinbase
At approximately 13:25 UTC today, a wallet associated with James Zhong (Silk road hacker), moved 8,200 BTC to a Coinbase deposit address. This wallet is now under the control of the Department of Justice (DOJ) and as per the mandate they set out earlier in the year, this BTC will likely be TWAP sold on Coinbase over the coming week / weeks. This is their second tranche of sales of BTC for the year. After this is complete, they will sell another two tranches totalling around 30k BTC.
Eigenlayer opened up deposits today, increasing their cbETH, stETH and rETH limits from 3,200 ETH each to 15,000 ETH each. Within a few hours of opening their gates, Eigenlayer was flooded with ETH deposits, making it one of the largest gas consuming contracts on the day. Once 35k ETH was touched, decided to pause deposits to give people more time to enter the Eigenpod strategies.
Google has announced that it will now allow apps and games on Google Play to facilitate the buying, selling, and earning of digital assets, including NFTs (Non-Fungible Tokens). This decision is aimed at supporting developers by enabling them to enhance and broaden their blockchain-based offerings on the platform, catering to the evolving needs and ambitions of users.
The Starknet Quantum Leap part 1: v0.12.0 has been deployed on the public Goerli Testnet.
It is now in its final testing phase before supercharging the Mainnet next week.
Ribbon team proposes that Aevo becomes the sole and unified brand and to wind down RBN and launch a new token: AEVO.
GMX has proposed a fee split for GMX v2. There are two options being voted on:
Option 1: 10% of protocol fees for GMX stakers & GMX LPs to the GMX Treasury, Chainlink oracles funded by a sub-allocation of the 10% GMX Treasury allocation
Option 2: Maintain existing fee structure, GMX stakers reduced by 1.2% which is given to Chainlink oracles.
Terra wallet (0x15a5) has started selling some of its CVX. As of today, it has sold 50K CVX, worth approximately $200K. The wallet still owns 1.74M CVX ($6.95M).
Trending Assets
Top Performers in Top 300
Rollbit, up 21.76%, Centrifuge, up 17.84%, and Liquity, up 11.84%, outperformed today.
Top Losers in Top 300
JOE, down 6.38%, ORDI, down 4.81%, and CAKE, down 2.99%, underperformed today.
ETH Staking Outflows
We saw a net outflow day in ETH staking today, with one entity that we have identified as Kraken unstaking 19.7k ETH.
Above $100M MC by performance, on chain
On chain, CFG, RLB and Liquity were the top performers for the day. Notably, CFG is up 111.54% over the past 30 days.
Above $1B MC by performance, on chain
Coins above $1B MC have underperformed today.
Trending Contracts
Notably, the EigenLayer stage 1 contract is the number 6 top gas user for the past day.
Fees
Ethereum earned the highest fees over the past day, at $5.49M, followed by Lido and Arbitrum.
Coingecko Trending Assets
Apecoin
Matic
Pepe 2.0
Axelar
Roasthimjim
Pendle
Arbitrum
Stablecoin Netflows
There have been strong net in flows into Ethereum, of $7.064M, and BSC, of $2.089M. In contrast, there have been net out flows out of Polygon, of - $18.37M, and Arbitrum, of - $2.25M.
TVL
The top TVL gainer for the day is EigenLayer, which saw a 228% growth in its TVL. Other notable protocols that saw strong growth in their TVL are y2k V1, which grew its TVL by 51.47%, and Pika Protocol, which grew its TVL by 43.87%.
